Nigeria’s Central Bank Raises Interest Rate to 15.5% in 20yrs.
In its bid to curb the nation’s surging inflation, Nigeria’s Apex bank, CBN’s Monetary Policy Committee yesterday, September 27th, 2022, unanimously voted to raise both the MPR (monetary policy rate) and the CRR (cash reserve ratio) while holding all other... Read More →
NGX Declined Further by 0.91% in Week 3 of Sept
Bearish sentiment persists in the local bourse as the NGX ASI declined further by 0.91% WoW, closing negative in 4 of the 5 trading sessions. It fell on significant decreases in bellwether stocks such as BUACEMENT (-10.36%) and CADBURY (-13.82%).... Read More →
Stock Market Update: NGX records 0.44% Decline Week on Week.
Bearish sentiment persists in the local bourse as the NGX ASI declined by 0.44% WoW, closing negative in 4 of the 5 trading sessions. It fell on significant decreases in high-value stocks such as BETAGLASS (-9.96%) and UACN (-6.82%). Consequently,... Read More →
NGX ASI Declines by 0.70%, with Negative Performance in 3 of the 5 trading sessions of Last Week.
The local bourse closed negative last week, as the NGX ASI declined by 0.70%, closing negative in 3 of the 5 trading sessions. It fell on significant decreases in bellwether stocks such as VITAFOAM (-9.96%) and. Consequently, at 49,695.12 points,... Read More →
Gains in Guinness Plc, Vitafoam Plc, and Others Drive NGX ASI Up by 0.73%.
The Nigerian bourse at the weekend maintained a positive trend, as the NGX ASI increased by 0.73%, closing positive in 3 of the 5 trading sessions. It improved on significant increases in bellwether stocks such as GUINNESS (+9.88%) and VITAFOAM... Read More →
NGX: Nigerian Bourse Rebounds, Erases Previous Day’s loss to Close the Week Positive.
The last trading day of the week saw the local bourse rebound from its previous week’s loss, as the NGX ASI gained by 0.63%, closing positive in 3 of the 5 trading sessions. This improvement is on the back of... Read More →
The New CBN Interest Rates on Savings – The Potential Impact
The Central Bank of Nigeria CBN in a circular dated August 15, 2022, said it has revised interest rates from previously 10 percent to 30 percent of the Monetary Policy Rate (MPR). Implications for Depositors This means that savings depositors... Read More →
Nigerian Equities Close the Week Negative, NGX ASI Down by 0.59%.
The local bourse closed in red last week, the NGX ASI declined by 0.59%, closing negative in 4 of the 5 trading sessions during the week. It fell on the back of selling pressures in large caps such as FLOURMILL... Read More →
An uptick in the Price of Food and Non-Farm Produce, drive Nigeria’s Inflation Up to 19.64% in July 2022.
The Consumer Price Index (CPI), which measures inflation, rose by 19.64% Year-on-Year (YoY) in Jul’22. This is 1.04% and 2.26% higher than the rate recorded in Jun’22 (18.60%) and Jul’21 (17.38%). The headline inflation spiraled upward, in line with the previous month’s... Read More →
The Nigerian Equities Market
The Local Bourse rebounded from its negatory territory as it increased by 0.70% WoW, despite closing negative in three of the five trading sessions during the week. It improved on the back of buying pressures in large caps such PZ... Read More →